QUANTUM METAL SDN. BHD. PENCELAH 1. ) Maybank Islamic Berhad 2. ) NEW STAR BUSINESS SDN. BHD. 3. ) AIDA FUAD 4. ) AZMAN BIN AHMAD 5. ) Jun Yamada @ Abdul Rashid Bin Abdullah 6. ) NOR LIZA BINTI JELANI 7. ) NOR HAYATI BINTI MAT JAMOR 8. ) TOKYO MEGANE (OPTICAL) SDN BHD 9. ) HARYATI BINTI JAMHARI 10. ) Fatim Hanimah Binti Abdul Karim 11. ) AZIZAH BINTI RAZALI 12. ) Saiful Azwan Bin Mohd Redzwan 13. ) Suhailah Binti Mustafa 14. ) Noratasya Binti Hassan Shuhaimi 15. ) NG KENG FOONG 16. ) Khadijah...

wa-28jm-5-04-2025 High Court (Mahkamah Tinggi) 25 February 2026 • WA-28JM-5-04/2025 • 23 min read
18 cases cited (3 SG, 15 foreign)

Outcome

In the circumstances, I dismissed Encl 1 with costs as set out in para 2 above.

Quoted verbatim from the judgment of High Court (Mahkamah Tinggi) (wa-28jm-5-04-2025). Read the full judgment on the official Malaysia Courts portal for the complete decision.

Catchwords

Company law – Judicial management – Application for judicial management order – Whether statutory requirements satisfied – Sections 404 and 405 Companies Act 2016 – Whether company unable to pay its debts – Whether judicial management likely to achieve statutory purposes – Requirement of real prospect or more probable than not – Burden of proof – Whether sufficient evidence of viable rehabilitation plan – Absence of proof of funding – Whether proposed business projects speculative – More advantageous realization of assets – Whether evidence supports better recovery than winding up – Public interest – Scope and applicability – Whether circumstances justify invocation – Corporate rescue mechanism – Whether application bona fide or supported by evidence – Requirement of strict proof

Practice Areas

Company Law Bankruptcy & Insolvency

Judges (1)

Suhendran Sockanathan Delivered

Counsel (11)

Asiah & Hisam Firm Ong, Ric & Partners Firm Wan Ahmad Ridzuan & Co. Firm Wan Shahrizal, Hari & Co. Firm Mohamad Aiman Asyiq Counsel Respondent Muhammad Zulfaqar Counsel Respondent Noor Dinie Roslan Counsel Respondent Ryan Soong Counsel Respondent Tang Suvine Counsel Respondent Vincent Lim Counsel Respondent Zikry Wahidir Counsel Respondent

Parties (20)

AIMPACT TECH Sdn Bhd Intervener MAYBANK ISLAMIC BERHAD Intervener NEW STAR BUSINESS Sdn Bhd Intervener QUANTUM METAL Sdn Bhd Applicant TOKYO MEGANE Sdn Bhd Intervener Aida Fuad Intervener Azizah binti Razali Intervener Azman bin Ahmad Intervener Fatim Hanimah binti Abdul Karim Intervener Haryati binti Jamhari Intervener Jun Yamada @ Abdul Rashid bin Abdullah Aggrieved Party Jun Yamada @ Abdul Rashid bin Abdullah Intervener Khadijah binti Zulkifly Intervener Ng Keng Foong Intervener Nor Hayati binti Mat Jamor Intervener Nor Liza binti Jelani Intervener Noratasya binti Hassan Shuhaimi Intervener Nurul Hidayah binti Mohd Lokthman Aggrieved Party Saiful Azwan bin Mohd Redzwan Intervener Suhailah binti Mustafa Intervener

Statutes Cited

Companies Act 2016 (Cap 777)
Rules of Court 2012
UK Insolvency Act 1986
s 8(1)(b)

Cases Cited (18)

SG (1)
[2025] SGHC 77
SLR (2)
[1994] 2 SLR(R) 298 [2009] 2 SLR(R) 949
UK (3)
[1989] 1 WLR 368 [2004] EWHC 2430 [2024] EWCA Civ 24
MY (12)
[1997] 1 MLJ 808 [2019] 8 MLJ 473 [2019] MLJU 148 [2020] MLJU 1188 [2021] 9 MLJ 618 [2023] 5 CLJ 628 [2023] 5 MLJ 900 [2025] 11 MLJ 275 [2025] 8 MLJ 875 [2025] MLJU 2598 [2025] MLJU 4147 [2026] MLJU 173

Judgment

Read the full judgment on the official Malaysia Courts portal.

Read on eJudgment

Source: eJudgment (wa-28jm-5-04-2025)